Vertiv (NYSE:VRT) Issues Q4 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.800-0.840 for the period, compared to the consensus earnings per share estimate of 0.750. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Stock Performance

NYSE VRT opened at $112.42 on Wednesday. The stock has a fifty day simple moving average of $91.81 and a 200-day simple moving average of $89.70. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market cap of $42.08 billion, a PE ratio of 108.10, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.19.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the business earned $0.46 earnings per share. Equities analysts anticipate that Vertiv will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of recent research reports. Bank of America upped their target price on shares of Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. TD Cowen raised their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI boosted their target price on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus target price of $112.44.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.01% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.